ING Groep (ING) Sets New 1-Year Low at $11.40

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ING Groep NV (NYSE:ING) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $11.40 and last traded at $11.52, with a volume of 308800 shares. The stock had previously closed at $11.93.

Several research firms have commented on ING. Zacks Investment Research downgraded ING Groep from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine upgraded ING Groep from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Morgan Stanley upgraded ING Groep from an “underweight” rating to an “equal weight” rating in a report on Friday, November 2nd. Royal Bank of Canada restated a “neutral” rating on shares of ING Groep in a report on Thursday, November 1st. Finally, JPMorgan Chase & Co. downgraded ING Groep from an “overweight” rating to a “neutral” rating in a report on Monday, September 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $21.00.

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.29. The stock has a market cap of $45.04 billion, a PE ratio of 7.92 and a beta of 1.22.

ING Groep (NYSE:ING) last announced its earnings results on Thursday, November 1st. The financial services provider reported $0.23 earnings per share (EPS) for the quarter. The business had revenue of $5.40 billion for the quarter. ING Groep had a return on equity of 9.05% and a net margin of 24.83%. Equities analysts predict that ING Groep NV will post 1.5 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in ING. Belpointe Asset Management LLC bought a new stake in ING Groep during the 3rd quarter valued at $116,000. Hilltop Holdings Inc. bought a new stake in ING Groep during the 3rd quarter valued at $130,000. Bailard Inc. bought a new stake in ING Groep during the 3rd quarter valued at $133,000. Russell Investments Group Ltd. bought a new stake in ING Groep during the 3rd quarter valued at $136,000. Finally, Rhumbline Advisers bought a new stake in ING Groep during the 3rd quarter valued at $142,000. 3.47% of the stock is currently owned by institutional investors and hedge funds.

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ING Groep Company Profile (NYSE:ING)

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.

Read More: Average Daily Trade Volume – What You Need to Know

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